Fair Isaac FICTITIOUS lates on Equifax reports This is a fully documented FICO credit scoring software bug -- the impact on FICO scores can be devastating and disputes with Equifax are futile because Equifax is NOT reporting these late payments.
Collectors need to NOTIFY consumers of collections MOST consumers find out about collections when they get their credit report.
Collectors MUST notify consumers 45 days PRIOR to obtaining the consumers' credit reports and reporting the collections
The regulators REFUSE to enforce consumer protection laws I have been submitting my complaints about false mortgage advertisements for years to the California Department of Real Estate.
They never once took any action and instead IGNORED my complaints.
Federal law to allow recording of sales and collections calls We need to preempt state laws prohibiting the recording of calls unless all parties are notified to STOP the lies and abuse by marketers and collectors and we need STATUTORY damages for misrepresentations.
LIES are the #1 reason for the subprime crisis!
WaMu 26% rate due to credit without any derogatory data This topic was about CHASE.
11/20/07: Chase press release announcing new practice NOT to use credit bureau information to rate accounts. FINALLY!
Now WaMu increased the rate to 26% on a credit card due to the credit, but there is NOTHING negative on the credit reports. The high balances caused the low FICO score.
Failure to disclose the often INCORRECT inquiry classification Fair Isaac widely publicizes that it "deduplicates" (counting several inquiries as only one inquiry) auto and mortgage inquiries so that applications with multiple lenders will not lower the FICO credit scores.
However, often auto and mortgage inquiries are not coded as such and MOST credit reports do not disclose the type of inquiry.
INCOMPLETE and INCORRECT Fair Isaac (myFICO) credit reports At $15/report, you should get the COMPLETE consumer disclosures the FCRA mandates. myFICO reports contain NO soft inquiries, NO credit grantor contact information, PARTIAL personal data, ...
INCORRECT field labels, bizarre data.
Capital One lowers the FICO scores of MILLIONS The LAW, the litigation, Judge Wake's order, the CDIA Credit Reporting Manual
After 6 years of complaints, lawsuits and publication, Capital One finally has to report the credit limits.
Congress needs to ensure that Capital One adequately compensates its account holders for the damages it intentionally and maliciously inflicted.
Senator Christopher Dodd, D - CT 11/28/07: Announced bankruptcy reform legislation
11/30/07: Submitted the link with many issues not addressed by the proposed legislation.
The archived webcast and the transcripts The lies of Lydia Parnes, Director, Bureau of Consumer Protection, FTC and Sandra Braunstein, Director, Division of Consumer and Community Affairs, Federal Reserve System
Contacting Representatives I'm requesting that all Members of the House Financial Services Committee state their position with regards to the issues discussed in my 6/21/07 Open Letter.
I document my contacts here and I will update with the responses.
Obviously, you should NOT vote for a politician who does NOT bother to respond.
